SENOMYX ANNOUNCES EXTENSION OF ITS COLLABORATION WITH CAMPBELL SOUP COMPANY
* Reuters is not responsible for the content in this press release.
SAN DIEGO, CA, March 30, 2009 /PRNewswire-FirstCall/ -- Senomyx, Inc. (Nasdaq:
SNMX), a leading company focused on using proprietary technologies to discover
and develop novel flavor ingredients for the food, beverage, and ingredient
supply industries, announced today the extension of the collaborative research
phase under its initial collaborative research and license agreement with
Campbell Soup Company, a global manufacturer and marketer of high quality soup
and simple meals. During the collaborative research period, Senomyx will
continue to work with Campbell on the discovery and commercialization of new
ingredients that improve the taste of wet soups and savory beverages. Under
the extension, Campbell will provide research funding for one year with three
annual options of one year each that could further extend the collaboration.
In addition, upon successful outcome of the research, Senomyx may receive a
milestone payment as well as royalties based on net sales of products using
the new ingredients.
"Senomyx is very pleased to continue our long-standing relationship with
Campbell, whose renowned market-leading brands include soup, baked snacks, and
healthy beverages," said Kent Snyder, President, Chief Executive Officer, and
Chairman of the Board of the Company. "Like our partners, Senomyx is
committed to using innovative approaches to create flavorsome, lower sodium
products. This is an exciting time for the Company as we continue to evaluate
potential new flavor ingredients that could maintain the salty taste desirable
to consumers while facilitating a meaningful reduction of sodium in foods and
beverages.
"This is the second agreement that Senomyx has extended with one of our
collaborators recently," Snyder noted. "We appreciate the continued
commitment of our seven world-class partners."
About Senomyx, Inc. (www.senomyx.com)
Senomyx is a leading company using proprietary taste receptor technologies to
discover and develop novel flavor ingredients in the savory, sweet, salt,
bitter, and cooling areas. Senomyx has entered into product discovery,
development, and commercialization collaborations with seven of the world's
foremost food, beverage, and ingredient supply companies: Ajinomoto Co., Inc.,
Cadbury plc, Campbell Soup Company, The Coca-Cola Company, Firmenich SA,
Nestle SA, and Solae. Nestle is currently marketing products that contain one
of Senomyx's flavor ingredients. For more information, please visit
www.senomyx.com.
Forward-Looking Statements
Statements contained in this press release regarding matters that are not
historical facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Because such statements are
subject to risks and uncertainties, actual results may differ materially from
those expressed or implied by such forward-looking statements. Such statements
include, but are not limited to, statements regarding: Senomyx's ability to
identify and develop novel flavor ingredients that provide a sufficiently
potent salt taste enhancing effect that also maintains the salty taste
desirable to consumers; the capabilities of Senomyx's flavor ingredients,
Senomyx's ability, or Senomyx's collaborators' ability, to commercialize
products incorporating Senomyx's flavor ingredients in packaged foods and
beverages; the duration of Senomyx's collaborative research and license
agreement with Campbell and whether Campbell will elect its option to extend
the collaboration for any additional periods; and Senomyx's right to receive
research fees, milestone payments and royalties under its agreements with its
collaborators. Risks that contribute to the uncertain nature of the
forward-looking statements include: Senomyx is dependent on its product
discovery and development collaborators for all of Senomyx's revenue; Senomyx
is dependent on its current and any future product discovery and development
collaborators to develop and commercialize any flavor ingredients Senomyx may
discover; Senomyx may be unable to develop flavor ingredients useful for
formulation into products; Senomyx or its collaborators may be unable to
obtain and maintain the regulatory approval required for flavor ingredients to
be incorporated into products that are sold; even if Senomyx or its
collaborators receive a regulatory approval and incorporate Senomyx flavor
ingredients into products, those products may never be commercially
successful; and Senomyx's ability to compete in the flavor ingredients market
may decline if Senomyx does not adequately protect its proprietary
technologies. These and other risks and uncertainties are described more fully
in Senomyx's most recently filed SEC documents, including its Annual Report on
Form 10-K, under the headings "Risks Related to Our Business" and "Risks
Related to Our Industry." All forward-looking statements contained in this
press release speak only as of the date on which they were made. Senomyx
undertakes no obligation to update such statements to reflect events that
occur or circumstances that exist after the date on which they were made.
Contact:
Gwen Rosenberg
Senomyx, Inc.
Vice President, Investor Relations & Corporate Communications
(858) 646-8369
gwen.rosenberg@senomyx.com
SOURCE Senomyx, Inc.
Gwen Rosenberg, Vice President, Investor Relations & Corporate Communications
of Senomyx, Inc., +1-858-646-8369, gwen.rosenberg@senomyx.com
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.


Follow Reuters